British Columbia Updates PST Bulletin on Vehicles

British Columbia Bulletin PST 308, “PST on Vehicles” provides information about the application of British Columbia (“BC”) Provincial Sales Tax (“PST”) to vehicles purchased, brought into, or acquired as a gift in BC. The definition of a vehicle has been updated to include a trailer.

In some circumstances, it is necessary to calculate the depreciated purchase price of a vehicle in order to determine the PST liability.  This involves the use of a depreciation rate, which also has to be calculated, and the bulletin has been updated to add further clarification.